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Can You Live in a 38 Square Meter Condominium? |
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Written by Alberto Sun
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Monday, 24 September 2012 10:47 |
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When Jenny Chua's house was flooded and inundated during Typhoon Undoy several years ago, her family finally decided that enough was enough. She sold her 200 square meter house and lot and moved to a 38 square meter condominium in Ortigas Center. Her family decided that they had experienced enough life threatening floods and realized the huge cost of building and rebuilding their house after every catastrophe.
"Our family realized that if we moved to a condominium, we will have more money left over to pay for more basic things like food, shelter and education for our kids. Furthermore since Ortigas is in the middle of Metro Manila, we were able to sell our two cars and we now live a more healthier lifestyle since everything including our office and our kids' school are now all walking distance from our condominium. Should we need to go to the different parts of Metro Manila, we now take the MRT train and LRT train or hail a taxi cab if needed. this means less traffic and more quality time with my family and friends" says Jenny Chua.
"Furthermore part of the money we got from selling our house and our two cars, we spent on "Interior Decorating" our condominium from affordable items in Our Home in Shoe Mart Megamall. The bulk of the money we placed in a time deposit for the college trust fund of our kids and on another condominium which we know lease out to augment our two incomes. The third income now allows us to travel at least once a year." says Jenny.
According to Jenny, these were the reason's they decided to move to condominium and how they made the transition:
No More Mortgage. Jenny Chua have no more mortgage on their house, which can be freeing both financially and personally. "My life is less expensive, which gives me more time to enjoy it," says Chua, who now goes biking, malling, walking, and grows organic herbs in her small kitchen garden.
Lower Utility and Maintenance Bills. A smaller condominium will result in a smaller utility bills since less places to light up and less things to fix.
Less Clutter. A smaller condominium pushes the homeowners to cut down on their possessions, but that means they have fewer belongings to maintain and spend less time searching for lost items. "It's amazing, we just don't need all that room or that much stuff and we no longer need a maid to clean our mess since there is no mess to begin with," says Chua.
More Quality Time for Family and Friends. " Our kids entertain their friends in the condominium swimming pool during the weekends or meet their friends in Shoe shoe Mart Mega Mall or Robinson's Galleria after exam week. We treat or friends in nearby restaurants or coffee shop and removed the hassle and bustle of driving in Metro Manila."
In a hindsight Jenny says, "Growing up, most of my friends' parents were never around to enjoy their houses because they were working all their lives in order to pay for their house." |
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Last Updated on Monday, 24 September 2012 11:25 |
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HELP: Where Should I Invest My Money? |
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Written by Alberto Sun
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Saturday, 06 August 2011 08:48 |
Where can Overseas Filipino investors hide when even gold and cash look dicey?
Some US financial advisers were answering phone calls from panicky Fil-American clients last Thursday night as the Dow Jones Industrial plummeted more than 500 points. On the other side of the globe, the London FTSE 100 fell due to a hung UK Parliament and Greece's debt-financial crisis. These recent events made most US analyst believe that the tell tale signs of a US Double-Dip Recession has already begun and that the US property market will reach rock bottom in 2012.
Now the question for most Filipino investors abroad is, "Where should I invest my hard earned Dollars and Euros?"
Finding Alternatives
Despite all of the turmoil in the US and in Europe, global financial advisers believe that there are opportunities to be made in East Asia. East Asia has experienced remarkable economic growth over the past three decades with China's manufacturing sector and India's services sector leading the pack. Asian Development Bank (ADB) predicts that Asia will account for half of all global economic output by 2050 and most of the countries in the East Asia and the Pacific rim will benefit from this unprecedented growth, especially the Philippines.
Right now, the Philippines is already experiencing rapid economic growth under the new leadership of President Benigno Simeon Aquino III. Huge investments are pouring in the Business Process Outsourcing (BPO) sector and these investments established the Philippines as the "Call Center Capital of the World" surpassing India in total revenues sales. Philippine export grew exponentially spearheaded by the semi-conductor industry renewed vigor as a result of the huge demand for Chinese electronic goods. Philippine Tourism grew more than 13% as a result of the global interest for sustainable eco-tourism and health-medical tourism. All these economic gains resulted in a boom in the housing and condominium property sector. Forbes magazine even voted the Philippine real estate sector as one of the best areas to invest around the world. And global banking giant Citigroup has identified the Philippines as one of 11 countries that will likely stand out in a globally integrated economy in terms of high growth rates and investment returns over the next 40 years.
Investment Instruments
There are a number of investment instruments you can use if you want to take advantage of the economic boom in the Philippines. Fil-Americans and Fil-Europeans are allowed to engage in business in the Philippines because of their Filipino ancestry. They are even allowed to purchase properties in the Philippines 7,107 islands. They can also purchase Philippine mutual fund investments almost anywhere using the Internet. Lastly, even foreigners can take part in the boom by simply by buying a condominium units in the Commercial Business Districts (CBD). Foreigners can also obtain Filipino citizenship through the Philippine Retirement Agency (PRA) if they wish to extend the value of their hard earned Dollars and Euros. |
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Last Updated on Tuesday, 18 September 2012 04:32 |
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Philippines One of the Most Promising Countries in Asia |
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Written by Inquirer.net
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Friday, 25 February 2011 06:48 |
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Global banking giant Citigroup has identified the Philippines as one of 11 countries that will likely stand out in a globally integrated economy in terms of high growth rates and investment returns over the next 40 years.
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Last Updated on Tuesday, 18 September 2012 04:33 |
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Read more...
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Written by ehow.com
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Wednesday, 22 December 2010 21:18 |
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If your version of the American dream doesn't include mowing the lawn, think about buying a condo. Good options for both first-time home
buyers and older folks who are ready to downsize, condos are typically smaller and less expensive than a single family home, and can include attractive amenities as part of a home owners association (HOA), such as pools and fitness facilities. Bone up on both the pluses and the minuses.
1. Think about how long you're going to stay in one place. Buying a condo is no different than buying a single-family home--you need to live there at least a couple of years to recoup closing costs, assuming the property will appreciate.
2. Give some thought to what you want. If you're not interested in the pool or sauna, understand that the condo's price and ongoing monthly association fees will reflect their use regardless of your interest in swimming or sweating.
3. Visit various condominium or townhouse communities and multi-unit buildings so you know what's available where you live. Get a sense of prevailing prices.
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Last Updated on Monday, 26 September 2011 17:35 |
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Best Places In Asia To Be A Landlord |
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Written by Forbes Magazine
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Friday, 30 July 2010 03:43 |
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Property prices in some parts of Asia are skyrocketing; since the first quarter of 2009 China's rose 68% and Hong Kong's 31%. But some of the best real estate buys may be farther south.
Indonesia, the Philippines and Malaysia top the list of best places in the region to be a landlord, according to rental-yield data calculated by the Global Property Guide, a research house and website. In those places the cost of buying an apartment is relatively low compared with the money that can be earned by renting it out.
"We try to explain to people where they should be investing," says Matthew Montague-Pollock, Global Property Guide's publisher. "One reason is for income. One is for capital gains."

Montague-Pollock's team collects its information using in-house research, information from accountancy and law firms, and central bank and national statistical data. It ranks 13 Asia-Pacific countries in terms of rental yields (technically, the gross annual rental income expressed as a percentage of the property purchase price) in upscale parts of their major cities. These include areas like Hong Kong Island and the central residential neighborhood of Boeung Keng Kang in Phnom Penh, Cambodia--places where at least moderately well-heeled professionals live, be they expatriate or local.
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Last Updated on Tuesday, 18 September 2012 04:33 |
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